India-Oman FTA Nears Completion: Indian Ambassador

2024-08-28 02:36:18

(MENAFN- KNN India) New Delhi, Aug 28 (KNN) Negotiations for the Comprehensive Economic Partnership Agreement (CEPA) between India and Oman have reached an advanced stage, according to Indian Ambassador to Oman Amit Narang.

In a statement on Tuesday, Ambassador Narang expressed optimism about the early conclusion of the proposed free trade agreement.

The CEPA is anticipated to significantly enhance bilateral trade and investment relations between the two nations.

Once implemented, the agreement is expected to eliminate duties on various Indian exports to Oman, potentially benefiting several key sectors.

Industries likely to see increased export opportunities include petroleum products, textiles, electronics, pharmaceuticals, machinery, and iron and steel.

The removal of trade barriers is projected to boost Indian exports to the West Asian country, potentially opening new avenues for economic cooperation.

As discussions progress, both sides appear keen to finalize the agreement, which could mark a new chapter in India-Oman economic relations.

However, no specific timeline for the conclusion of negotiations has been officially announced.

(KNN Bureau)

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